Australia's biggest car dealership group with 200 showrooms says a strong rebound in the vehicle market is fuelling a late surge in profits for 2020.
It sparked another jump in Eagers Automotive's share price on Friday of more than 7 per cent by 10.45am AEDT to above $14. This in turn lifted the wealth of Rich Lister Nick Politis who holds a 27 per cent stake in a company with a sharemarket capitalisation of $3.6 billion. Mr Politis' stake is worth about $985 million.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
